CHTA collaborates with KPMG on benchmarking study to assess hotel industry’s performance

Hoteliers to Get Insight into Competitive Financial Comparisons

Hoteliers participating in KPMG’s 2016 Caribbean Resort Benchmarking Survey will gain valuable insight by comparing their own financial performance against the industry’s norm in the region. KPMG, in collaboration with the Caribbean Hotel and Tourism Association (CHTA), has launched the 2016 survey, designed to help owners, operators, lenders and investors better understand the profile and performance of their Caribbean resorts.

The 2016 survey looks to build on the success of past surveys and provide additional insight into the impact of the economic environment on the recent and forecasted future financial performance of Caribbean resorts.

“We believe that individual resorts can benefit from regional benchmarks that allow them to compare their own financial performance to industry performance regionally. Participants will receive more detailed results than will be available in the publically available report,” according to Gary Brough, Managing Director for KPMG, Turks and Caicos Islands, who heads KPMG’s tourism group in the region.
CHTA’s CEO Frank Comito emphasized the importance of hotel participation in the research. “Through the Benchmarking Study, resort owners and operators will be able to see where they stand compared to their peers in the industry in key operational areas, with source marketing strategies and in the utilization of various distribution channels,” states Comito. CHTA will post the general findings from the study on the Tourism Data Resource Center section of its website.

KPMG and CHTA emphasized that they will maintain strict confidentiality over reported data, indicating that all information will be presented on a consolidated basis only so that no property’s individual results will be identifiable.

The survey is being launched this week to all CHTA hotel members. Details about how hotels can participate and benefit from the findings can be provided by contacting Gary Brough at gbrough@kpmg.tc or James Savory at jamespeter@kpmg.tc.

The full consolidated findings of the study will be shared at CHTA’s Caribbean Hospitality Industry Exchange Forum (CHIEF), which will be held Sept. 30 – Oct. 2, 2016 at El Conquistador Resort, A Waldorf Astoria Resort in Puerto Rico